Man Group plc Has $57.70 Million Position in Everest Group, Ltd. (NYSE:EG)

Man Group plc raised its stake in Everest Group, Ltd. (NYSE:EG - Free Report) by 42.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 159,199 shares of the company's stock after acquiring an additional 47,465 shares during the quarter. Man Group plc owned approximately 0.37% of Everest Group worth $57,703,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Everest Group by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 5,560,030 shares of the company's stock worth $2,015,288,000 after acquiring an additional 43,793 shares during the last quarter. Norges Bank bought a new position in Everest Group in the 4th quarter valued at approximately $488,588,000. Franklin Resources Inc. raised its holdings in Everest Group by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,281,611 shares of the company's stock valued at $464,533,000 after buying an additional 4,544 shares during the last quarter. Geode Capital Management LLC raised its holdings in Everest Group by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,164,081 shares of the company's stock valued at $424,344,000 after buying an additional 8,321 shares during the last quarter. Finally, Vulcan Value Partners LLC raised its holdings in Everest Group by 279.1% in the 4th quarter. Vulcan Value Partners LLC now owns 978,713 shares of the company's stock valued at $354,768,000 after buying an additional 720,572 shares during the last quarter. Institutional investors own 92.64% of the company's stock.

Insider Transactions at Everest Group

In other news, Director Geraldine Losquadro sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $360.63, for a total transaction of $540,945.00. Following the completion of the sale, the director now owns 12,279 shares of the company's stock, valued at $4,428,175.77. This trade represents a 10.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.10% of the company's stock.

Everest Group Trading Up 1.3%

Everest Group stock traded up $4.33 during mid-day trading on Friday, hitting $348.22. 417,176 shares of the stock were exchanged, compared to its average volume of 380,923. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 0.26. Everest Group, Ltd. has a 12 month low of $320.00 and a 12 month high of $407.30. The firm's fifty day simple moving average is $351.38 and its two-hundred day simple moving average is $356.80. The stock has a market capitalization of $14.81 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 0.24 and a beta of 0.58.

Everest Group (NYSE:EG - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $6.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.46 by ($1.01). The firm had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $3.89 billion. Everest Group had a return on equity of 9.04% and a net margin of 7.95%. The firm's revenue for the quarter was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $16.32 EPS. Analysts forecast that Everest Group, Ltd. will post 47.93 EPS for the current year.

Everest Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Wednesday, May 28th will be given a dividend of $2.00 per share. This represents a $8.00 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Wednesday, May 28th. Everest Group's dividend payout ratio (DPR) is 41.15%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EG shares. Jefferies Financial Group upgraded shares of Everest Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $376.00 to $415.00 in a report on Friday, April 11th. Morgan Stanley reiterated an "equal weight" rating and issued a $340.00 price objective (down previously from $425.00) on shares of Everest Group in a report on Wednesday, February 5th. Keefe, Bruyette & Woods dropped their price objective on shares of Everest Group from $434.00 to $402.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Evercore ISI dropped their price objective on shares of Everest Group from $400.00 to $396.00 and set an "in-line" rating for the company in a report on Thursday, May 1st. Finally, BMO Capital Markets lowered shares of Everest Group from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $453.00 to $375.00 in a report on Thursday, January 30th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Everest Group presently has a consensus rating of "Moderate Buy" and a consensus price target of $397.18.

About Everest Group

Everest Group, Ltd., through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. The company operates through two segment, Insurance and Reinsurance. The Reinsurance segment writes property and casualty reinsurance; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies in the United States, Bermuda, Ireland, Canada, Singapore, Switzerland, and the United Kingdom.